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According to the EUROFER report, demand for large welded tubes from the oil and gas industry is not predicted to improve substantially in the longer term, despite the recent hikes in energy prices. The recent recovery of global oil demand is not expected to boost the launch of new pipelines in the short term. On the other hand, demand from the construction sector is set to recover a bit more robustly, whereas tube demand from the automotive and engineering sectors is forecast to remain relatively weaker.

EUROFER stated that it expects steel tube output in the EU to grow by three percent in 2022, followed by a 2.7 percent rise in 2023.